Chair-CEO generation gap and bank risk-taking
作者： Yifan Zhou , Alper Kara , Philip Molyneux
DOI: 10.1016/J.BAR.2019.03.005
关键词: Financial crisis 、 Independence 、 Sample (statistics) 、 Generation gap 、 Demographic economics 、 Diversity (business) 、 Business 、 Corporate governance 、 Actuarial science 、 Age differences 、 Bank risk
摘要: Abstract Poor bank governance has disastrous consequences for economies as the 2007–2009 financial crisis shown. In aftermath, board diversity is identified an effective mechanism to enhance governance. Diversity, creating cognitive conflict between members, expected board's independence of thought better perform monitoring and advising functions. Age a key demographic measure age dissimilarity chair CEO in non-financial firms leads economic outcomes (Goergen, Limbach, & Scholz, 2015). this paper, we examine whether chair-CEO can mitigate banks' excessive risk-taking behaviour. Using unique sample 100 listed banks Europe 2005 2014, find that difference reduces risk-taking. A generational gap –defined minimum 20 years' difference– larger impact reducing
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